Shares of Hindustan Unilever Ltd (HUL) climbed more than 2 per cent and touched their 52-week high level in morning trade today after the company posted strong earnings for the quarter ended March.
The company yesterday reported 14.2 per cent increase in its standalone net profit to Rs 1,351 crore for the fourth quarter ended March 31, driven by a strong double digit volume growth.
Reacting to the numbers, the stock of the company opened on a bullish note at Rs 1,504.95, then jumped 2.54 per cent to touch a high of Rs 1,543.25 on the BSE.
Similar movement was seen on the NSE as well, where the stock opened at Rs 1,530, then soared to its 52-week high of Rs 1,542.40, up 2.58 per cent over its previous closing price.
HUL's net sales during the quarter under review stood at Rs 9,003 crore compared to Rs 8,773 crore in the same quarter previous fiscal.
Meanwhile, the board of the company has recommended a final dividend of Rs 12 for the financial year ended March 31, 2018 on equity shares of Re 1 each.